SouthGobi Updates on Mongolia Tax Audit

Vancouver, BC / ACCESSWIRE / June 12, 2024 - SouthGobi Resources Ltd. (TSX-V:SGQ)(HK:1878) has provided an update regarding the ongoing tax audit in Mongolia. The company's subsidiary, Southgobi Sands LLC, has submitted an appeal letter to the Tax Dispute Resolution Council. This follows consultations with its independent tax consultant in Mongolia.

The appeal concerns the re-assessment result on the tax audit previously disclosed. It has been submitted in accordance with Mongolian laws. SouthGobi will continue to inform shareholders and potential investors on any progress.

Shareholders and investors are advised to exercise caution when dealing with the company's shares.